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Exponential growth expected for Alberton property market

Strong demand in Alberton's diverse residential property market is expected to lead to exponential growth in the near future.
 
The city on Johannesburg's south-eastern border is already undergoing significant modernisation and densification, says David Enslin, owner of top local estate agency Harcourts 1 Vision.
 
Reasons for Alberton's popularity, he says, include excellent schools, established infrastructure and job opportunities in both the industrial and commercial sector. "And as a consequence of growing demand, home prices here are starting to outstrip those for equivalent homes in other centres surrounding Johannesburg."


?4 Bedroom House for sale in New Redruth, Alberton
 
Enslin’s agency is currently involved in several densification projects in the suburb New Redruth where large 2000sqm stands are being subdivided to make room for small cluster developments of between four and eight units. Similar developments are being undertaken in the suburbs of Alberante, Raceview and Alberton North, where even greater densification is being proposed.
 
The freehold units are selling briskly and finding favour among buyers in the LSM7 and higher income groups at prices from R1,25m to R1,9m. Buyers with young families are especially active at the lower end of this range, which offers three-bedroom, two-bathroom homes.
 

?3 Bedroom house for sale in Meyersdal, Alberton

Units at the top of the range, which offer four bedrooms, three bathrooms and double garages on stands of 500sqm, attract buyers with larger families, while those who are downscaling prefer the mid-priced units.
 
Meanwhile, starter homes in the traditional townships on the periphery of the city are attracting new entrants to the market at prices from around R250 000. But, says Enslin, most current local activity is in the R800 000 to R1,5m price range, with older homes offering three bedrooms and two bathrooms in suburbs such as Albertsdal, Brackendowns Extension, Mayberry Park, General Alberts Park, Florentia and Alberton North being particularly popular among first-time buyers with young families. Many of these homes are being upgraded and modernised by new owners.
 

?6 Bedroom House for sale in Meyersdal, Alberton

"Buyers are typically parents who both work and they are buying 'location' to take advantage of nearby schools and convenient shopping and other facilities, within an excellent infrastructure" says Enslin.
 
Buyers in the top end of the local market are active in lifestyle estates where prices in the Meyersdal Nature Estate, for instance, start at around R3.75m. The adjacent Meyersdal Eco Estate is also still attracting buyers at prices from around R6m. “In contrast to other areas in Alberton where densification is evident, low density is one of the strong attractions of the lifestyle estates. In Meyersdal Eco Estate, for example, only 15% of the estate is being planned for development and residents enjoy large stands with an average size of 2000sqm. The remaining portion of the estate is reserved for wildlife and natural flora.”
 
Enslin says that in order to prepare for the expected growth of the market, his franchise is currently on a recruitment drive for more experienced agents. "We plan to quadruple our sales staff in the next two to three years and will double the current number before the end of the year to cope with growing activity in the market."


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